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Hello everyone,
I am going to claiming back charges from Barclays business account closed in 2005, please let me know if i can claim for any of them below thanks
overdraft interest
Including Fee
Total Commission
Renewal Fee
Account fee
Unpaid cheq
Hello everyone,
I am going to claiming back charges from Barclays business account closed in 2005, please let me know if i can claim for any of them below thanks
overdraft interest
Including Fee
Total Commission
Renewal Fee
Account fee
Unpaid cheq
Until recently, our contention regards business account charges was as such:
Overdraft interest - Yes, but only that portion of interest incurred as a result of reclaimable charges. There are spreadsheets available to help calculate this.
Including fee - Possibly ? If the fee was charged due to extending or exceeding your limit due to some item then we argued a certain yes. Otherwise, if your talking about a fee to negotiate or increase an overdraft, the need for which had been brought about over time due to an accumulation of reclaimable charges, then possibly.*
Total Commission - What kind? If for currency conversions, then no. If commission for arranging a loan necessitated by past charges, then possibly*
Account Fee - If it relates to a charge for a returned item, or an overdraft excess charge (either due to an item taking it there, or some charge for returning an item), then yes.
The names and terms used may differ from bank to bank, account to account, and even time to time, but if the effect is the same ie: a charge for exceeding a limit or retuning an item, then this was argued as being an unlawful penalty.
Unpaid cheq - As account fee.
* Regards these items, then possibly... although this makes it a more difficult claim and relies upon claiming for consequential losses.
However.
The current OFT case against the major banks regards personal account charges has currently caused some confusion regards Business account charges claims.
This is because Business accounts do not come under the scope of the UTCCR99 regulations (which is the main battle point and cause for claim in the OFT case for personal current account charges), and so instead had to rely upon common law principles to fight their lawfulness. (ie: by comparing them to precedents set by past similar court cases, then such charges should also be considered as penalties).
However, with what has happened with the OFT case to date, the judge has very strangely so far decided that such charges do not constitute penalties under common law.
This currently leaves business claimants in limbo a bit.
It is not yet sure whether or not this point will be contested or expanded upon, so at present it leaves business claimants at the moment possibly without a cause of action.
Until this is cleared up, or other angles of approach or arguments are devised, then my current advice would be to wait before claiming or submitting anything, and keep an eye on the current case.
In the meantime, use your time to read up on the principles and law, total up your charges and be ready to pounce.
The Oft waiver agreed between the banks relates to current accounts.
However you may know that the banks have been quick to tell us that some of the decisions made in the test case affect business claims-in particular the common law element of historical charges.
If therefore they are citing this and the banks solicitors are defending stays on the provisio that the test case will hae effects on the outcome of claims including business-then its reasonable to assume that they should apply the same sympathetic approach to all hardship claims.
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Barclays BA
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Re: Barclays BA
Originally Posted by bobbie2
